Sunday Supplement: 19 July 2020

‘Mount Nameless (afternoon)’ 1981, Fred Williams, National Gallery of Victoria


Macro & Markets








Terra Specufestorus


…and furthermore…


Ritualised Forms
Latest posts by Ritualised Forms (see all)


  1. OK So update on parent’s friend who apparently had 4 properties .. turns out, it is 6 properties! And he’s had no job since being made redundant last year (unrelated to wuflu).
    Anyway, 4 of them are on half rent. 2 of them vacated and no rent since. One of the vacated, had someone offer him $200 p/w for rent. Heard from mum, frustrations starting to mount with that person.
    I asked “well what happens after Sept”.. “no idea” was the answer.
    Still, the australian “she’ll be right” attitude has been alive till now. Frustrations only STARTING now…

          • Derrick BoganMEMBER

            “owns” 6 properties.

            And not for long.

            Reminds me of that bumper sticker I saw on an old Ford once – “you laugh, but at least I own it”.

          • I know. And we’re supposed to feel sorry for these people? I feel sorry for the FHB who were sucked into this. Not some greedy pig who created this mess.

          • Stewie Griffin

            Don’t worry – they will start cranking the MMT handle and money will start flowing back into the economy and those debts will begin to be serviced again and everything will be okay for the banks and those who ‘have a go’ by borrowing big. Status quo maintained.

        • People who make other people suffer by investing in get rich quick schemes deserve sympathy when it blows up in their face? Hell no!
          Anyone who cheered on increasing house prices at the expense of future generations deserves what they get. Its called Karma.

      • But they are not a burden on the system because they live off the rent. So no need for a Government pension. If they sell it they may only be able to afford 1 cruise per year.

        • The only reason these hardworking mums and dads make such a big sacrifice (i.e. sign the 6 loan documents) is so that they will not be a burden on society when they are old – no other reason.

          Consider how great a burden an old couple could be if they had not previously “invested” by signing loan documents. Now they are legally entitled to, what, $600 per week combined pension which is a terrible burden on young tax payers.

          By contrast had the old couple “invested” by signing loan documents earlier in life, they could now be legally entitled to collect, what, $3000 per week in rents. These rents of course are no burden at all for young citizens to pay.

          I hope my example shows how enormous rises in rents, and egregious lending and borrowing allows old people to live in luxury while being no burden to anyone else. There really is no other sound economic way.

          • I was being facetious. I’ve had property investors of retirement age complain in this regard to me. Telling me they are not a burden on the system.

    • happy valleyMEMBER

      But, but they are living the great Strayan dream and moreover, they are one of SFM’s chosen people.

    • “Have you ever heard how they catch monkeys in Brazil Julie?” Let me tell you. They put a nut in a bottle, and tie the bottle to a tree. The monkey grasps the nut, but the neck of the bottle is too narrow for the monkey to withdraw its paw and the nut. You would think the monkey would let go of the nut and escape, wouldn’t you? But it never does. It is so greedy it never releases the nut and is always captured. Remember that story, Julie. Greed is a dangerous thing. If you give way to it, sooner or later you will be caught.” From the James Hadley Chase thriller The Paw in the Bottle

    • TailorTrashMEMBER

      They were savvy …they snapped up …..
      … they can puke up …..let it burn !

    • Oh, so when you talk about growing “micro greens” this is what you do with the leaf?

      • ErmingtonPlumbingMEMBER

        Back in my baking days my ANZAC biscuits were only ever made with the finest and most resinous head kif from bud manicuring.
        They used to Knock the bloody socks off even the most seasoned veterans.

        • Same good old butter recipe is being used now for many a cancer patient and other ailments.

      • haroldusMEMBER

        Funny you should say that.

        For some reason my mum bought me a pair of pure white rugby shorts last Christmas, and I’m wearing a white T-shirt.

        So I am totally in white!

        Which is, at it occurs to me looking in the mirror, a little disturbing.

        Like a large, hairy, very butch dyke dressed as Johnny Wilkinson during RWC 2003.

      • Interesting, I’m considering switching from herb to low t hc and high cbd oil. Migrated back from to the vape to the saxophone. Which defeats the purpose of quitting smoking.

        I can literally not sleep without it now that I almost never drink.

  2. We won’t achieve economic reform until we go back to co-operating – Ninefax, Gittins…Gitto is right, but we only start cooperating when we have a load more clarity on who the beneficiaries of the cooperation actually are.

    @,Gunna is that your comment? I am thinking we need smaller communities that look after each other and we should start excluding big global companies so the 1% ers can suffer a bit.

    All this talk of these companies being job providers etc.. and how necessary they are etc.. it’s all out the window thanks to Covid-19. What it shows is the 1% need us more than ever. Yet they screw us each year harder and harder. Henry Ford knew if he paid his workers more they could buy his cars. Why don’t today’s genius entrepreneurs get that?

    • Let’s be honest here for a moment: Henry Bloody Ford would have felt *right* at home if he had access to an infinite supply of cheap workers.

      It just happens that he was born then, not now to benefit from the unlimited supply of shift-kickers and the credit supply at any cost policy…

    • What community when house flipping in 5 or 7 years is a national sport. In suburbs or even towns people barely know who their first neighbours are because either them or neighbours moved there relatively recently.
      Housing bubble destroyed local communities by making people trade and move so frequently for whatever reasons like upgrading, downgrading, investing, renting, …
      This is not 19th century Europe where local people lived in the same place for centuries knowing not only each other since birth but also families since middle ages.

      • I agree with all this. Community in Australia is very superficial and not the ideological pure , brown paper bags for groceries and chalk on the side walk stuff.

        It would be nice to have these caring inter generational enclaves,,I think people are far to focused on individual ism and identity politics and their own ancestry story.

        Australia is economic zone.

    • Small is the new big.

      When you work for a small company, you know your boss. When you work for Microsoft you’ll never meet the Big Cheese.

      Ditto small, local government. You can actually connect with the people looking after civic amenities. Sh1t gets done and the real issues are addressed.

      But I’m sure the drones who run the European Commission care deeply about all the citizens of Europe – the connection goes deep. 🙄

    • As for ‘cooperation’ – that’s a curious one. This should occur of its own accord if it’s needed at all. And if it doesn’t, how do you make it happen? Force people against their own free will?

      • Evolutionary selection favours individuals that are more selfish, but communities that have more selfless people do better than ones that have more selfish people.
        There is actually a genetic basis to this depending on the cognitive functions you inherit. Fe/Ti types desire a harmonious but controlled environment where social standing is based on mutual exchange, but has a dislike of individuality. Fi/Te types for societies based on a dominance order where sharing of experience/traumas/exploits allows individuals to form groups based on similarities. Te types aggressively seek their desired (often selfish) objectives, but Fi types are often very caring so it balance people out. Ideally you want a balanced mixture so that you don’t end up too restrictive or too chaotic.

        • Yes, that makes sense — but presumably this is something that occurs naturally rather than being a scenario that you can manufacture. At times the balance between these types will be tipped one way or another too, I would assume and that would change the dynamic for a period, before the balance shifted again.

    • Henry Ford was a good propagandist. Paying higher wages had nothing to do with maintaining sales. You could still pay a below substitution wage and have mass production, businesses would just trade more with one another, output would shift to capital goods etc.
      eg. China, hold wages below productivity, does it hurt sales? No the economy just ends up shifting to capital, luxury goods and export production.
      People should stop believing in the myth of philanthropy. The rich don’t care. If they did they would pay their taxes.

        • What you’ll find the longer you read the comments section here is that, in many cases, people’s opinions are based around their perceptions of the way the world is rather than the way it really is. Even outlandish conspiracy theories, garnered from hopelessly biased media organisations are repeated as fact – largely because those organisations are deemed to have longstanding integrity (NYT, WaPo, CNN etc).

    • Don’t fall for the Henry Ford high-wage mythology/quackery. It is not true.

      Workers do not require artificially high wages to have a decent life. They require a fair share of natural resources to be allocated to each citizen.

      IF we allow the elite to deprive ordinary people of a fair share of natural resources THEN all kinds of schemes such as artificially high wages (unemployment benefits, sickness benefits) appear to be sensible and necessary.

      • he didn’t pay high wages in an economic sense anyway. His wages were higher v competitors yes, but say he paid staff in the cars they produced rather cash, the workers would have seen that they were receiving a lower share of Ford’s production and revenue over time, due to the dramatic increase in productivity.

      • Mining BoganMEMBER

        Changing the rules with his Cabinet. Cancelling parliament. Next is cancelling elections.

        This mob is dangerous with a whole bunch of nutters running around on the inside.

    • Welcome to the future. The MB comments section will be next, followed by the blog itself.

      And yet, ppl cheer for ‘hate speech’ legislation. Be careful what you wish for …

      • Yeah it’s a concern for sure. If we silence those we don’t agree with its a slippery slope.

        • Just don’t mention contrarian climate positions here, since that bit of globalist MSM wokeness is sacred and unquestionable.
          Either your pro free speech, or your not.

          • Robert you raise an interesting point. But I think there is a difference between free speech and astroturfing, and outright fake news and propaganda and misrepresentation of facts.

            Disagreeing and allowing people to have a voice is 1 thing, but when the scientific consensus is something like 97% of climate scientists and the community is in agreement as to the cause of a change in climate, then I think it’s fairly safe to say that dissenting voices are vested interests.

            How you Police that is something Big Tech companies are currently grappling with.

          • Gav, I find your scientific consensus and vested interest comments naive. Most hypotheses are not within the scientific consensus, at least not initially, and that included AGW which is still a hypothesis btw.

            As for vested interests, they are on both sides of the argument. The likes of Alex Turnbull with his tens of millions of dollars worth of renewal shares, threatening to use his wealth to take down any politician that doesn’t agree in AGW making him even wealthier, no different to big oil on the other side of the argument.

        • Your reply to Robert on GW spot on, Gav. The science is in. That anybody (Freddy, Robert) wants to politicise it is tiresome. No place for such idiocy here.

    • ErmingtonPlumbingMEMBER

      All here should follow Michael and retweet his content on a regular basis.
      The more followers and support he has the better.

      • drsmithyMEMBER

        Even better, subscribe and send him some money.

        (Tried to post a link but it got blackholed.)

          • It’s worth it. All his articles are open to all. Good for you and good for the public. I put some of my MB subscription cash there. (I’m invested in the fund so I thought I’d share the love across other interwebs content providers.)

  3. Err, you realise that Henry Ford is famous for paying his workers double the going rate and believing that workers ought to be paid well and fairly for quality work?
    He is reported to have been disgusted that without higher pay ordinary factory workers would be unable to afford the very products they were producing so ensured that his workers were paid a wage that would enable them to buy his cars.
    This NPR article even credits him for the creation of the middle class!
    Not all “owners, capitalists and industrialists” subscribe to cheaper is always better you know.

    • First he sacked half of workers by introducing self moving factory lines.
      Check articles and books of the time to judge him, or just watch the famous movie to see how good it was to work for him

      • reusachtigeMEMBER

        Yeah when he introduced innovation he should have kept those workers to tend to his own personal needs! Scumbag.

      • boomengineeringMEMBER

        OK The real reason he paid high wages is because the good tradesmen of the day couldn’t stand the repetition of menial tasks which meant he had a high turnover of workers and the only way he could keep some of them was to increase wages for the ones prepared to dumb down.

    • Henry Ford had upsides and downsides

      He did make an effort to employ black Americans and even people with disabilities, and for a long time made an effort to keep their rates of pay stable.

      However in the end he did (like all the other manufacturers in the US) shed loads of them during the depression, and there was his fairly open espousal of positions vis the role of a particular religious belief which saw him honoured in pre WW2 era Germany

    • So why doesn’t Myer double wages in order to double sales?
      Ford increased wages because he was able to increase productivity (time to produce a car) dramatically, though specialization on the assembly line high turnover became more costly. But wages were not increased to boost sales. They increased due to high productivity

    • call me ArtieMEMBER

      Hi bcn. Can you post a link please?
      I would be interested to read your interpretation of this in more detail, if you feel inclined


      • It’s so hard at the moment
        Everyone seems to have turned bullish AUD, and technically it looks that way too, think AUD will still follow US equities which ASX follows too, think we are going to test the March lows in ASX H2, Q1 2021, over sort of next 6 to 9 months maybe a little higher in ASX and AUD but think we are close to a top, then think we will see 3,000s in ASX before a bounce higher, AUD into 50s maybe very high 40s and bounce out of there. I know I’m going against general consensus, and i don’t say with as strong conviction as I have done in the past, I’d be very careful trading at the moment
        Think you can own good equities tech and non discretionary on a big sell off, hold USD and AUD, hold gold and silver. Maybe very short dated bonds, 6 or 12 months max, US treasuries,
        Try and stay away from anything to do with property in the most part and anything to do with interest rate risk

        I think interest rates are going to rise similar to 1980s over next few years, property residential is going to crash in main big cities Melb and Syd less coastal and regional, but if I’m correct on interest rates every where commercial and residential prices will fall
        We are moving towards needs to wants and value of currency is being destroyed by central banks and government so you need to own a balance of diversified assets that don’t have huge debt associated. if interest rates rise it’s a disaster for governments who are borrowing like crazy people
        So I’d say be very careful of anything that is linked to debt
        I guess I’ve moved to a very broad range of things, don’t feel it’s a time to be long or short anything on just a trade, you’ll like lose. This is the quiet before storm and just trying not to lose what you have. Put yourself in a position to be free to move, with diversity.
        Think we are going into insane times we have seen in 100s of years, this is multiple times worse than 1930s Great Depression, We are headed into economic Armageddon over next 24 months
        I just got rung and told I have to wear a mask outside in Melbourne from WED, if that’s the case, VIC economy is going off a cliff worse than anytime ever in its history of 200 years or so
        I think AUST will be good longer term because of location to ASIA our food and resources commodities etc but we are going to have the crash and burn first
        Food and non discretionary inflation with more expensive energy for heating and more sickness for a long period of time

        • Rorke's DriftMEMBER

          BCN lots of extremes at the moment that will need to resolve and I agree the world is changing. Though I dont think macro analysis and actions for the next 6mths can be separated from the US election in November.

          I read a comment from someone somewhere earlier this year that the Fed was going to flood liquidity in order to crash the US dollar. Deliberate strategy. It was just an online comment but stuck with me and seems to be playing out. I then saw this article from the anti Trump fake news CNN in ysterdays links discussing a longer term shift away from the dollar but short term it was Trump affecting the dollar and he could worsen its short term weakness in coming months.

          I sort of suspect there is a push for the moment to weaken the dollar and that trend will continue until years end, then lets see. However, if that were the case, then the AUD I thought would strengthen as it is liquid and backed by commodities, so maybe a bit of safehaven flows. So thats sort of my framework for the short term positive AUD outlook.

          On equities, this bubble could pop anytime and will go hard. End times. Looking for shorts, but wont get warning will just happen so your position of not trading is sound. But Im convinced it will happen either side of US election. Either antiTrump forces will crash it, say 2 to 3mths out or pro Trump forces will hold it up enough to get him reelected then collapse. Im thinking of waiting say end July and setting December puts to cover both scenarios. Still building positions in select small cap stocks that arent market or interest rate affected, but watching large cap equities and freeing up some cadh to short once Im game. Super money moved out of equities to cash, cant be long the market here.

          • RD
            Yes possibly I’m wrong, your argument makes good logical sense
            It’s very hard to predict anything at the moment
            I would say anyone is very brave to bet against KING DOLLAR.
            I’d rather my money in the US compared with Europe UK Japan HK China or any emerging market, there is Switzerland but I’m not even sure I’m comfortable with that choice

            Time will tell

        • call me ArtieMEMBER

          Thanks bcn for the elaboration.

          I am certainly very much trying to protect what modest amount I have managed to accumulate, not looking for gains. But I find it a vey difficult situation.

          I am holding a lot of AUD cash, a lot of USD cash, some modest shorts on the ASX, a modest amount of gold. No bonds at all, no shares at all. It seems pretty safe until I think of bank bail-ins. In which case I would be dreadfully exposed. This government might take all my super and put it in a community bucket, anything sems possible if things go really nasty. I am tempted to buy a home to live in out in the Vic countryside, but I really think that all property in Aus will suffer big losses when the lending dies up. It might still be the best idea, since I own no RE.

          It’s under-priced risk everywhere. Choose your poison

          • Take your cash and give to people sitting at home watching Netflix
            I don’t know where they are going to get all this money from for constant hand outs

          • I’m in the same position Artie. Cashed up all assets anticipating a crash last year and am currently renting. But I’m thinking of buying pretty soon as we’re really going into unchartered waters, as bcn says, many multiples worse than the 1930s depression.

            The UN warned again tonight of famine of ‘biblical proportions’ and while we tend to think (as we always do) that that could never happen here, I’m not so sure. If conflict breaks out, our oil has a long way to come and through a couple of easily blocked bottlenecks. And we’re one of the most urbanized of countries (coz we’re mostly desert) and farms and farmers are dependent on imports for farm equipment, fertilizer, pesticides, herbicides etc

            I’m thinking that although I might in six months time be thinking I could have bought more cheaply, I’d like to be safe somewhere with a few acres and away from the city pretty soon. Nothing like a safe haven in bad times.

  4. working class hamMEMBER

    Banks stating publicly that they will have an increased number of forced sales in Jan 21′. Even after the gag order from the Govt was issued.
    30% down before Xmas?

    • I’m curious to see how the Gubmint responds to a fall of that magnitude.

      I’m in the camp of ‘there’s really not a lot they can do’ but there are several lurkers here who believe the gubbermint can keep it all propped up.

      • Don’t need to prop it up … provide an alternative is all is necessary.

        On another note don’t you find it curious that the core fear of the founding fathers [tm] of neoliberalism like Hayek’s book “Road to Serfdom” would be better described as a self fulfilling prophecy E.g. all the things done in the name to stop – totalitarianism – has eventuated in it ….

        Best bit is now they can’t stray from the path or have to publicly admit they were wrong or worse accept its as BS from onset and this is its end game. I guess the only other question is the failure to reconcile things like a virus or other natural environmental outcomes that did not fit into the simplistic narrative crafting …

        • What alternative, skip? Confiscate all private property and allocate it ‘fairly’ to all citizens?

          Sounds good mate. Because then we’ll all be ‘free’ and the shackles of totalitarianism will have been, er … shaken off.

          • ErmingtonPlumbingMEMBER

            You read any opposition to neoliberalism and unfettered capitalism as advocating for totalitarian communism,….fcvking ridiculous.
            If the philosophers are correct in saying real democracy will ALWAYS produce a kind of redistribution, a kind of welfare state then I suspect it is you who is anti democratic and an advocate of the will of the people being crushed, by violence if necessary, in totalitarian style.
            A Democratically guided degree of redistribution is not the confiscation of all property!

          • WTF is ‘neoliberalism’? It is, without question, the most over-used word on this blog and yet, no one who uses it really understand what it means. I sure as hell don’t. The only the conclusion I can reach is that it is a catch-all word to describe any system that isn’t pure socialism.

            As for democracy, if people vote for redistribution, then fantastic, I respect that (genuinely). But I’m a big believer in personal freedom and I respect the right too of entrepreneurs and business-people to pack their sh*t and f#ck off somewhere else to set up in an environment that enhances their prospects of success. If that happens, then it’s a win-win situation, isn’t it: both sides get what they want. Agreed?

          • drsmithyMEMBER

            You read any opposition to neoliberalism and unfettered capitalism as advocating for totalitarian communism,….fcvking ridiculous.

            Extremists can only conceive of extreme scenarios.

          • Smithy, instead of trolling the whole time perhaps you could avail the members of some constructive input for once.

            Even a joke or some light banter would be a vast improvement on your usual brand of invective.

          • imo its the most underused word in general.
            eg. when was the last time someone mentioned Neoliberalism on Q&A? Probably never.

          • I’ve never read Atlas Shrugged and I don’t care to. I have a mind of my own – kind of happens with age.

            Ya know what, Ermo, my brother-in-law lives in a quasi-collectivist community and he’s loveliest guy in the world, to the extent that he wants to build a home for his ex-wife and his ex-wife’s parents. Try and beat that for community-spiritedness. We get on like a house on fire, because I respect (and admire) him and all he does for people and he respects the way I live too and we don’t sit around wagging our fingers at one another telling each other where we think each other is wrong, like ideologues do. This is the central problem with the western world today — it’s infested with authoritarian figures (like drsmithy, for example) who think they have the moral authority to tell other people what to do and the way they should be living their lives and, dog forbid, what to think.

            Whatever happened to respecting the fact that everyone is different and, as such, there will always be a broad range of views — you may disagree with many of them, but so what, let it be.

          • That Neoliberalism is almost never mentioned in any mainstream media is all the proof you need that it is the dominant ideology – and has been for the past 40 years. So accepted it isn’t even named.

          • Confiscate all private property and allocate it ‘fairly’ to all citizens?

            Only natural resources. Only distribute fairly what no man has created.
            Resources that are the result of work and investment can still belong to those who did the hard work to create them.

            This is how economics can give humans incentive to be productive, instead of an incentive to monopolise scarce natural resources and use them to enslave other people.

          • The writing already on the wall. Gubmint readying to buy up property to use as social housing.

          • drsmithyMEMBER

            Pot, kettle, etc, etc.

            We get on like a house on fire, because I respect (and admire) him and all he does for people and he respects the way I live too and we don’t sit around wagging our fingers at one another telling each other where we think each other is wrong, like ideologues do.

            You do this basically every day ! Literally a few posts above !

            Whatever happened to respecting the fact that everyone is different and, as such, there will always be a broad range of views — you may disagree with many of them, but so what, let it be.

            This would be less hypocritical if you (and people like you) weren’t constantly conflating disagreement with authoritarianism and oppression. Like, again, literally a few posts above.

          • The alternative is to let it burn so the predators can clean up the distressed assets, never forget there is money to be made in both directions.

          • Does your camp ever get sick of being a pre-victim that can’t reconcile all the social destruction your idiom promotes over a rather long time line?

          • Dominic the term is well defined and your implied ignorance of it is not a good sign of your intellectual abilities.

          • Smithy, you don’t disagree with others — like most of the ‘progressive’ ilk you go on the attack and denigrate people’s positions on certain issues. People like you detest others who have differing opinions from your own — very typical of the ‘educated’ progressive classes.

            You never present your opinions as alternatives to consider — you outright pillory others’ thoughts and usually mock the author of the aforementioned for having had the temerity to share them. I’m just staggered that anyone has the arrogance to lurk around like you do and casually deliver judgement on anyone in the tone you do. Seriously, who TF do you actually think you are.

          • Ad hominem attacks, skip? I thought that might be beneath an intellectual heavy-weight such as your good self.

            But, alas, not.

          • drsmithyMEMBER

            Smithy, you don’t disagree with others — like most of the ‘progressive’ ilk you go on the attack and denigrate people’s positions on certain issues.

            Yes. For exampe, when someone says something like ‘the best way to help the poor is to let them starve in the streets to incentivise them into work’, I most assuredly attack and denigrate that position as being unethical, immoral and wrong.

            That’s how “disagreement” works. Someone says something. Someone else explains why they think it’s wrong, occasionally with the bonus of supporting evidence.

            Your idea of “disagreement” is someone says something, then someone says something different, and since both of those opinions are inherently of equal merit simply because they exist, (the mythical “balance”) they agree to disagree and leave it at that.

            People like you detest others who have differing opinions from your own — very typical of the ‘educated’ progressive classes.

            On the contrary (as usual). I value differing opinions immensely as they help me to test the validity of my own viewpoints.

            I don’t care if people have different opinions, just if they have bad ones. For example:

            If someone thinks strawberry ice cream is great, or that going surfing is a better holiday than going snowboarding, I don’t really care, even though I personally disagree. Because those things have zero impact on anyone except them.

            If someone thinks massive inequality is OK, or that some people should have different legal rights for no good reason, I do care. Because those things are mot only morally and ethically wrong, but have a negative impact on the society I, my children, and a whole bunch of other people who are being harmed by them, live in.

            You never present your opinions as alternatives to consider — you outright pillory others’ thoughts and usually mock the author of the aforementioned for having had the temerity to share them. I’m just staggered that anyone has the arrogance to lurk around like you do and casually deliver judgement on anyone in the tone you do. Seriously, who TF do you actually think you are.

            LOL. Careful of the broken glass while you’re throwing all those stones around. You can barely get through a day without calling someone some version of dictator (despite, for example, them being consistent and explicit advocates of democracy).

          • Smithy, I don’t even know why you bother haunting these corridors – perhaps it takes the pressure off your wife? I can’t think of a single ally you have here, so why bother yourself. No one cares. Really.

    • Derrick BoganMEMBER

      There will be open class warfare if there is a government property bailout. Sub-30 year-olds, crapped over economically their entire lives, who face record unemployment, poor job prospects and security, and little to no viral morbidity, will collectively go “what’s the effing point?” and outright mutiny.

      It’s going to fall, the only question is who’ll be holding the parcel when the music stops.

      • I hope you’re right, but for revolution to occur the pall of apathy needs to shatter first — and more to the point, would the younger generations even understand how all these bailouts are hurting them?

        From where I’m standing they can feel the pain but they don’t understand the causes. Hopefully that changes but I’m not holding my breath at this point.

          • So it’s some book from the 50’s I think. So you can exit the system, or you can make a fuss, which is voice. Or you can hold your tongue and live with it, that’s loyalty.

            Let me Google it and come back to you. But the basic idea was (from memory of a conversation only) that faced with a system that did not work for you, these were your choices.

            In my head I always thought the apathy was a form of exit. Kind of like the old Soviet they pretend to pay us, we pretend to work kind of thing.

        • bolstroodMEMBER

          Not allowing parliament to sit while forcing schools to open is a good first step.

      • Arthur Schopenhauer

        For that to happen, wide-spread hunger would be needed. Hunger is a powerful motivator.
        Unlikely, but not inconceivable.

        • Not at all unlikely. Only a matter of time. What you’re really saying is that hunger is currently inconceivable to most.

          Just another example of Strayan’s belief that we’re different. And that we swallow the BS that Straya feeds 70 million.

          Straya is the global warming canary in the coal mine with the driest inhabited continent, the thinnest soils totally eroding, desrtifying and depleted from 200 years of strip mining….agricultural output entirely reliant on oil at every tiny step, rural towns emptying, fires exploding, overcrowded cities already in water stress every other year, and utterly clueless and with zero agricultural skills and corrupt and incompetent ‘managers’.

          As stated, only a matter of time.

          • Multi year droughts were common in NSW prior to 1950. They just forgot they occurred so overgrazed. Australia is also getting wetter due to global warming, it’s just we utilise none of the tropical areas for Ag production. Additionally you can just grow potatoes if you need to feed people, they are about 14 times more productive than grain crops. (Aus 1.6t tonnes per hectare for wheat, potatoes 40-90 tonnes per hectare)

    • annualize_this

      wch – have you got any links regarding the banks comments on the Jan 21 forced sales? I’ve heard a few things here and there but would be good to have something to share with others. Thanks.

      • working class hamMEMBER

        Sorry mate, after re-reading the Age article linked above (Safe as houses no more). I noticed the main quote was actually from Martin North.
        Still some telling language from the Bank execs, but a lot more subtle. Comprehension needs a little work, sorry.

        • annualize_this

          No probs. We’ve seen ANZ & CBA come out with comments in the past few weeks. I’ll keep an eye out for anything more explicit that comes up. It makes sense from a PR point of view that banks won’t start the forced sales in the weeks leading up to Christmas.

        • Probably not even a sovereign citizen, a free man of the land, thinks the earth is round, is more than 4,000 years old and 5G has nothing to do with Covid.

          Pffft – no idea.

        • No, not a denier. It’s been happening surreptitiously for a long time already.

          Whether it can be sustained, I wait with baited breath to see.

          • drsmithyMEMBER

            No, not a denier. It’s been happening surreptitiously for a long time already.

            Funding the global war machine and various billionaires ? Not sure “surreptitiously” is the right word.

      • Stewie Griffin

        MMT should ONLY be allowed or trialled AFTER debts have been repudiated, in order to get the economy moving again – otherwise it is simply more policy to lock the status quo in place, just like lower interest rates.

        Without repudiation of debt, MMT is simply debtor’s welfare.

        Sound, honest Money prevents and repudiates enslaving debts.

        • What we need is a form of debt jubilee where those with no debts are equally compensated. But I’m doubtful it will happen.

          • No we don’t. We need people to be held accountable to their debts. It will remove the cancerous rot of incapable speculators and free up the hard working, diligent and fiscally responsible to resume their rightful position.

            There will come a time when the profligate attitudes of the liberal western bourgeois middle class will be held to account. AGAIN. For the umpteenth time.

          • Stewie Griffin

            With sound money debt jubilees occur all the time – they’re called bankruptcy.

            By spreading debt throughout the economy and making the average person so dependent on debt, banksters have corrupted the interests of the general public. The interests of the common man have now become aligned with the interests of the Corporate classes.

            People actually support the bank bail outs because they think they are saving themselves, they’re not. They’re forging ever stronger chains and walls to their debtor prisons.

          • The Traveling Wilbur

            You. mean. reward. Savers?!

            Get thee behind me you anti-capitalist-riffraff.

          • PaperRooDogMEMBER

            @Rasputin trouble is if everyone with debts is held accountable and made to pay them back the economy would go into a deflationary dive the like of which we have never seen as aggregate demand would evaporate. Therefore just about the only way to get out of this mess we are in is a debit Jubilee, and only Prof Keen’s version where those that are debt free also get cash handout like the debtors would be palatable.

      • drsmithyMEMBER

        And left progressivism requires a “New Economics” to provide intellectual cover for what is essentially a political argument for painless free stuff from government.

        LOL. Don’t even need to read past the first paragraph to see it’s wrong.

        • Free ideas, free movement of all people, free money, free everything.

          There is a reason why people who believe in “The Age of Aquarius” also love Ghulags.

  5. Stewie Griffin

    The Economo article was interesting:

    What should worry about them is the next wave of populism. Those expected to run for the Republican candidacy in 2024 have Trump’s beliefs, but not his origins. With rare exceptions – like Fox News presenter Tucker – no one is a celebrity or a political novice.

    Which is has increasingly been of my view, “Beware what comes after Trump.”

    I’ve always been more interested in what is going to come AFTER Trump. To me Trump was always more about what doors is he going to open and where will they lead, then what he was going to accomplish in terms of building walls or withdrawing from overseas – Trump’s main accomplishment imho was always going to be breaking the stranglehold of Globalist ideals and championing the Nationalist narrative, and giving voice to a great many people who feel they have been cut out of the story of their own societies.

    • Derrick BoganMEMBER

      Trump isn’t the disease; merely the symptom. Losing in 2020 gives them 4 years solid to attack Biden and have the Dems looking over their shoulder. Then they can run a Nikki Haley-type against the ghost of Joe Biden in 2024 – he’d get trounced.

      • Stewie Griffin

        The risk is that with the open borders and plans the DNC have to allow all residents of the US to vote, that if Biden wins this election the US will be permanently and irreversibly broken – their democracy will have been stolen by imported demographics, something the sponsors of the US Immigration Act of 1965 said had no chance of ever occurring.

        The former vice president and 2020 Democratic presidential contender wants to reverse several of President Trump’s immigration policies and make reforms, including a pathway to citizenship for 11 million undocumented immigrants.

        If Biden does win I’d expect the secessionist movement to explode in the US over the following decade and this time meaningfully and with far greater purpose. Invading the world and then importing the world simply reduces the US to an economic zone, and as result local identity will become ever more important and defining.

    • Arthur Schopenhauer

      The Economist has recently found a deep concern for the middle and working class. After 40 years of championing Thatcherite neo-liberalism, it’s quite a turn.
      Things must be bad.
      “Never in the history of journalism has so much been read for so long by so few”, former editor Geoffrey Crowther.

      • 100% the establishment is busy soiling it’s trousers.

        The Emperor has no clothes and all their expensive toys (media, newspaper and even big tech) are increasingly disregarded by a pissed off public.

        The vanguard of the establishment, the various intelligence agencies, big finance and university systems, are increasingly being brought to light and being ridiculed.

        If this continues, or maybe we are already past the point, no establishment can survive.

        It’s brown trousers all the way down.

      • What we previously knew as journalism is effectively dead in the water. Am seeing plenty of comments questioning the bias of various journalists – eg. ABC Insider David Speers giving the soft touch to Liberal politicians, ABC reporter Leigh Sales promoting an AFR hitjob on Dan Andrews; and Morrison apologist Rachel Blaxendale who worked in Pyne’s office as well as being the sister-in-law to State Liberal MP Tim Smith – a proponent of open borders/let it rip.

        At this stage I wouldn’t care if the ABC got defunded. It’s also great to hear Sky and News media struggling – they haven’t done their job for years, so they can go and get fked.

        • Stewie Griffin

          I see the ABC as simply the other end of a double-ended d!ldo known as the MSM, it simply rams home the ‘Progressive’ immigration message in opposition to the ‘Neoliberal’ cutting services and ‘free’ market. Sure there are decent reporters and some investigative shows that remain, just like there are on the commercial stations (maybe if you added up all the decent reporters and investigative shows on all the Aust commercial channels).

          But the fact remains that any story they do choose to report on and gain accolades for, are only those stories that threaten outright community sentiment – like blatant corruption. Corruption with more steps, like our gas fiasco are conveniently ignored. Small media narrators like MB or Michael West or Crickey do a far better job at portraying a narrative that is truly in the publics interest.

          Basically my starting point with all MSM sources, regardless of it being commercial or Govt media, is that unless proven or corroborated independently, then the narrative is false.

    • My view is that things – geopolitically – are likely to get hard nosed from here. And to be honest that is why I simply cannot fathom why the US Democrats want to serve up another septuagenarian to run against Trump.

      Trump is mid 70s Biden even older. Xi Jinping and Vladimir Putin are late 60s.

      No matter who wins the US election the average punter in the US would have to be factoring in the possibility that either being elected could 1. Cark it in the Presidential chair or 2. more overtly lose their marbles in the chair…….that is all before looking at either of their propensity for fondling women who happen to be in their midst or their links to corruption.

      Xi and VVP are both well into the upper echelon of life expectancy. We can assume that those in the inner circle of both will start jockeying for position as the time approaches when they think the boss is looking doddery. It will be these types of people who will be hard nosed (if the chiefs arent).

      In the US (and Australia, and plausibly much of the ‘western’ world) the strategic political imperative is to rebuild some form of bridge between the older and wealthier (on the one hand) and the poorer and younger (on the other). For the most part the former are handing over a debt burdened socio economic landscape scorched by a generations worth of neoliberalism to have little prospect of sustaining the way of life the younger can easily see that the older have had. To be serving up 2 septuagenarian candidates in that context is simply telling anyone younger than maybe 60 that they (the aged wealthy) are staying at the slops bowl for a tad longer. All that does is feed a ‘revolutionary’ sentiment which in turn will lead to change (when it comes) of the more ‘short sharp shock’ kind.

      • Stewie Griffin

        All that does is feed a ‘revolutionary’ sentiment which in turn will lead to change (when it comes) of the more ‘short sharp shock’ kind.

        Very true – reversion to the mean never stops there. The snap back will be violent and sharp and way OTT.

        I simply cannot fathom why the US Democrats want to serve up another septuagenarian to run against Trump.

        Why one of them, Trump is running is obvious enough for the reasons in his running, but with Biden I think it is pure hubris. I try to avoid the conspiracy theory rabbit holes about the DNC, Clinton and the so called illuminate. I see it more as specific groups both acting in their own self interest and in a big enough bubble that they are overconfident with their success.

        This election isn’t between Trump and Biden, it is between Trump, the mainstream media, those who control and fund the DNC and the various activist groups, eg BLM and those that fund them. There is no conspiracy other than turning a blind eye to each others malfeasance while adhering to the DNC and progressive left’s mantra of unconditionally believing and supporting your supposed diversity coalition allies.

        They’ve put Biden up there because of hubris, the same belief in their manifest power and destiny and ability to ignore the wishes of the public that saw them put Clinton there in the prior election. They think it simply doesn’t matter who they put there, as they’ve collectively caused enough chaos, thrown enough mud via all the trumped up ‘gates’ to ensure their success.

    • Democrats have backed BLM to the hilt, AOC, and even Bernie – right as we enter the single biggest economic collapse in history as we face off with China taking the mantle of worlds largest economy, manufacturer, exporter – America is in serious trouble and its only real response has been military encircling of China – who cares.

      So the Dems have NO CHOICE but to double down on their policy platform. As they take power and crime goes through the roof with poverty – what is their response ? Even less police ? What is the response when middle America is suddenly under siege from crime – but they voted to fix racism by getting rid of cops?

      And what of a collapsed middle class – no taxes – deficit to the eye balls – and an ocean of bankrupt Democrat cities and states with unfunded pension liabilities which are completely and utterly un-payable ?

      And while infrastructure collapses, unemployment and crime skyrocket, the Dems scramble for “Green Revolutionary Solutions” almost 3 decades after China started the 3 Gorges dam.

      Dems are sleep walking into the single biggest catastrophe of their lives – and here’s the thing – if Trump loses – he can run again !


    TL;DR version. Covid-19 could destroy the Ponzi. Bill is a good bloke, wants better planning and cities.

    Mr Reece wants to double population based on some density pipedream about 20 min cities..

    “Greater density and mixed use mid-rise development in major activity centres, along key rail and tram lines, and in the central city would allow Melbourne to double its population without urban sprawl and it would actually improve amenity, vibrancy and environmental footprint of the metropolitan area.”

    There’s that word, vibrancy.

    • ZevombatMEMBER

      Good article, thanks for sharing. Mid rise might replace some potential high rise, and some developers will have massively overpaid for sites. Wonder how much is local owned vs foreign investment.

    • Nicholas Reece is another useful idiot. He doesn’t want to see a rise in urban sprawl or larger blocks, pointing to an interest in the dog box economy. Looking further he has ties with the University of Melbourne, so no doubt is reliant on the business as usual case of flooding the CBD with international students.

  7. ErmingtonPlumbingMEMBER

    Okay here’s my tinfoil hat conspiracy theory of the day.

    I’m Trying to understand why Joe Biden is the Democratic presidential candidate. His age, his early onset dementia, his frequent Hilarious verbal gaffs and his creepy “hands-on” style with the ladies and even worse the kiddies should have disqualified him from day one.
    So why is it him?
    Could DNC royalty need a man they can trust (or control) to hand out presidential pardon’s in the near future.

    That Ex Mossad agent, Code name 007 Epstein, certainly did leave this world with a lot of unanswered questions. I’m wondering If maxwells will survive to answer any of hers.
    Surely Bills and Hills wouldn’t “accident” their daughters close friend.

    Did anyone notice on that Widely broadcasted Epstein investigative report (by the bbc I think) that a great deal was made of Trumps connections to Epstein but very little on Billy boys relationship with the man.
    What I thought equally surprising was when showing that well known piece of Footage of a Supposed underage girl being let out of Epstein’s New York flat by Prince Andrew that the same footage shows Paul Keating’s daughter entering this property through the same door! yet her identity isn’t Stated.
    Was this fact left out for purely partisan reasons or are those in the mainstream media all part of the same big happy family .

    Am I seeing conspiracies that just aren’t there?

    Gulp,… Am I,…just a nutter?

    • US media stations have sided with Biden and said they wont broadcast a national debate unless they are allowed to fact check Trump in real time.


      Republicans are out for themselves and clearly sociopaths.

      Democrats are however the most corrupt of the lot. Its a hard bitter pill and a strange reality for me, a life long left – but its the truth.

      Biden to win. Democrats left to deal with defunding the police as the economy collapses, China takes control of global economy, dollar collapses, inflation goes ballistic, crime goes through the roof (no cops remember) and the white middle class comes begging to Trump for a second term.

      Dems try and pass laws banning any person who has been impeached to run for President.

      Entire country devolves into civil war.

      in 3….2….1….


      To Answer your question Biden is a foil for Blasio or someone similar.

    • drsmithyMEMBER

      Okay here’s my tinfoil hat conspiracy theory of the day.

      Why make it complicated ?

    • Plenty of Rep connections as well:
      As well as the well publicised Trumpy links his AG also has a close connection.
      A college dropout hired by Bill Barr’s father to an exclusive private school with plenty of young girls.

      Donald Barr has some very weird scifi writings as well right up Eps wheelhouse:

      Plenty of dirty laundry on both sides me thinks…and why Maxwell won’t make it out alive. My bet is she gets a bad case of COVID.

    • I used to be a lefty myself mate. Mum and Dad both have phd’s and mum used to teach in a uni. Grew up a good little progressive.

      Go to sometime. Half the new posts used to be, I used to be on the left but it’s absolutely disgusting what they now are.

      It’s like a monster ate the left from the inside and is now wearing its face as some kind of grotesque skin suit.

      You can’t unsee it once you see it.

        • drsmithyMEMBER

          No, no.

          When Caucasians harm others it’s because they’re bad people.

          When not-Caucasians harm others it’s because they’re not Caucasians.

          • And if Caucasians help others it is because they are good people and if non Caucasians help others it’s because they’ve assimilated properly and have adopted our hi IQ culture to the acceptable standard?

        • Check out Liberia. Freed American slaves that set themselves up as the elite who exploited the natives.

      • Stewie Griffin

        Relax BD6, it is not like bad people, Caucasians or any other, without any real culture or values (barbarians) would ever seek the favours of rich and powerful benefactors, or that those rich and powerful benefactors might be disproportionately drawn from one particular community or culture:

        Besides, even if there were such a culture, I’m sure that there is no way that a tiny cultural minority and would completely and dis-proportionally dominated the upper echelons of our society, both in business and in media.

        But even if they did dominate the media, business and the rich lists, I’m sure that they would have absolutely no interest in promoting their own cultural values or view points on certain issues ahead of the majority of the population or even in the interests of the majority of the population. And even if all of that were true, I’m sure those cultural values don’t have a two tiered ethical structure differentiating on how you should treat a member of your own tribe compared to another.

        But as to any evil, manipulative crime groups, corrupting business and politics – Pfth! Everyone knows that the only society to have ever produced an evil criminal organisations were the Italians and their Mafia. Still….I mean I wonder what the “Mafia” of four thousand year old culture with the highest median IQ in the world as a population group might look like?

        But silly me, of course smart people don’t commit crimes and the only religious group to have ever committed unspeakable crimes against children are the Catholics…. it is not as though there are centuries old blood liables against any other culture in the use of children and the committing of unspeakably heinous crimes in order to create unbreakable bonds of loyalty, in order to open doors to unimaginable riches and power?

        The greatest trick of the devil? Convincing you he doesn’t exist.

        • It’s incredible people don’t want to know who rules them. It was the first thing I researched after the GFC. Here folks really have no idea but ignorance is bliss.

          • Stewie Griffin

            I knew absolutely nothing about it until one day I thought dang it – I wonder what all the fuss is about. Surely reading up about some of these bizarre accusations couldn’t lead me down any rabbit holes, and besides, I’m a good enough person that I would never hold the views of ‘one of them’. Sometimes I look back and wish I’d never turned on the light.

            Have you come across the influence of Kabalahnism and numerology has over certain cultural groups – especially the magical Kabalistic number of 6 million…. the supposed number of souls that are required to go missing prior to the arrival of the Messiah?

   – Six Million Open Gates – SAR Lynch.pdf

            Weird how the Red Cross only ever tracked 400,000 casualities of one particular ethnic group, a number that was later remarkably revised higher by the Soviets (aka Bolshiviks aka…). I mean it wouldn’t have been in their interests to manufacture an even bigger crime to draw attention away from their own crimes and the 20m odd who died in the Holodomor of 1932…. the fear of which of course played absolutely no part in driving Germans to vote for H!tler enmass in 1933.

          • Interesting.
            The fake 6 million has given them sympathy and leverage for useful idiot bible bashers to go protecting them despite their outrages. Keep gently educating the ignorant is the only way

          • Stewie Griffin

            If you really want your head blown, go look up how much energy is required to burn a body and for how long. Convert that to units of Oil then to barrels of Oil. Then calculate how much would be needed to get to the magical Kabalah number… I’ve done all the sums. It would have equated to around 1/3 of Germany’s pre-war oil reserves… remember they lost their Romanian Oil fields in 1943, right when these atrocities were meant to have occurred. They were so short of Oil that they were actually converting Coal into diesel, yet instead of sending it to the eastern front they were diverted and ‘used’ for other purposes.

            I’ve been to the Big A – even when I was there I was confused. You go into the Crematorium and there’s just two trays – a body takes 2.5hrs to incinerate. The Big A was built in 1943 as an extension to the old work camp – the Math even to get through 1m at 2.5 an hour…. I’ve worked in industrial agricultural processing, the infrastructure to dispose of things…. it just wasn’t there with what I saw. At the time I was puzzelled, as the officials maintained that despite many of the dormatories having been destroyed, all the other infrastructure was as in intact, but I was a good person, I believed the story and put my questions aside and never bothered to look into it further.

            IMHO there is no doubt as to the reason why H deniers are simply denied air time – even the slightest examination of their evidence casts serious doubt and fundamentally undermines the popular narrative. Five years ago I would have been horrified to think I could possibly doubt the official narrative…. now I so desperately wish I could believe it. I honestly thought that their theories would be so propostrous as to be instantly discreditable. That light went on and all I wish for is that I’d remained in the dark.

    • Ghislaine’s daddy (UK media baron robert maxwell) was apprently in deep with Mossad. I think this goes way back. The israeli connection is there but not discussed in any of the docos. Too hot.

      Dirt files for blackmail and control of powerful people are kept by many organisations, political parties (Hello LNP/Murdoch), and intelligence agencies. Was Epsiten running a ring which was really about gethering compromising evidence on powerful people for use by Mossad? Russians are not the only ones into Kompromat.

      • Mate it’s obvious to blind Freddy or to anyone who cares to scratch the surface. It’s how evil has done its business for a long time and it’s found a happy hunting ground in weak sick western politicians and associated beaurocrats

    • This is from Wikepedia on Ghislaine’s daddy….

      The Foreign Office suspected that Maxwell was a secret agent of a foreign government, possibly a double agent or a triple agent, and “a thoroughly bad character and almost certainly financed by Russia.” Maxwell had known links to the British Secret Intelligence Service (MI6), to the Soviet KGB, and to the Israeli intelligence service Mossad.[44] Six serving and former heads of Israeli intelligence services attended Maxwell’s funeral in Israel, while Israeli Prime Minister Yitzhak Shamir eulogized him and stated: “He has done more for Israel than can today be told.”[45]

      Shortly before Maxwell’s death, a former employee of Israel’s Military Intelligence Directorate, Ari Ben-Menashe, approached a number of news organisations in Britain and the US with the allegation that Maxwell and the Daily Mirror’s foreign editor, Nicholas Davies, were both long-time agents for Mossad. Ben-Menashe also claimed that, in 1986, Maxwell informed the Israeli Embassy in London that Mordechai Vanunu revealed information about Israel’s nuclear capability to The Sunday Times, then to the Daily Mirror. Vanunu was subsequently kidnapped by Mossad and smuggled to Israel, convicted of treason and imprisoned for eighteen years.[46]

      Ben-Menashe’s story was ignored at first, but eventually The New Yorker journalist Seymour Hersh repeated some of the allegations during a press conference in London held to publicise The Samson Option, Hersh’s book about Israel’s nuclear weapons.[47] On 21 October 1991, Labour MP George Galloway and Conservative MP Rupert Allason (also known as espionage author Nigel West) agreed to raise the issue in the House of Commons under parliamentary privilege protection[a], which in turn allowed British newspapers to report events without fear of libel suits. Maxwell called the claims “ludicrous, a total invention” and sacked Davies.[48] A year later, in Galloway’s libel settlement against Mirror Group Newspapers (in which he received “substantial” damages), Galloway’s counsel announced that the MP accepted that the group’s staff had not been involved in Vanunu’s abduction. Galloway referred to Maxwell as “one of the worst criminals of the century.”[49]

    • Rorke's DriftMEMBER

      Democratic convention is August 17-20. Thats plenty of time for Biden, having cleared the field of alternatives, soaked up media space, seen off debates, can be declared a failure and the real candidate steps forward. Probably someone who makes a compelling scripted speach at the convention and so they relectantly decide to replace Biden. The real candidate gets a clear run with much less scrutiny over remaining 2mths. My theory only.

  8. ‘JobShirker’: Aussies’ outrage at PM’s Covid-19 move

    It comes days after former prime minister Tony Abbott called for politicians to take a pay cut. He said public servants and MPs earning more than $150,000 should take a temporary pay cut of 20 per cent. “One of the most grating phrases of this whole pandemic has been we’re all in this together because frankly, we haven’t been in it together,”

    • Why should people who have a job take a pay cut ? What an absurdly ridiculous idea.

      Lets see how laborers on government infrastructure projects feel about having their pay cut – or is this just a – “we hate people who sit in offices” thing.

      And at a time when we need to get as much stimulus into the economy – your solution, Tony’s, is to slash wages – brilliant. I mean obviously it makes people feel good by hurting people they hate, and obviously Tony is great at stoking hatred across racial and class divides for his own notoriety, but what gets me is how there are people who actually fall for this stuff.

      I’ve come across brighter lichen that this idea.

      • So I take it you support paying blue collar workers more? You know, hazard pay and all that. Because if we are all in this together then essential minimum wage workers need to be better paid so they don’t have to work multiple casual jobs and mill about all over the city.

        Minimum wage casual nursing home workers are moving between homes because they don’t have enough work at 1 home.

        So if we are all in this together, let’s support those who can’t afford to have an hour or 2 off work. So they don’t spread this thing further.

        • If we are all in this together a legislative cap clearly needs to be applied to executive compensation as a % of revenue. Exceed the cap and its treated as distribution of profit – you lose deductibility and management will need to explain that to shareholders.

      • Reference to paycuts is about politicians and public servants. Politicians ranging from Europe, Singapore and NZ have done similar in a show of solidarity. Not our lot who aren’t even capable of organising a zoom meeting. No one said anything about labourers taking a pay cut.

        Even someone supposedly as thick and out of touch as Abbott can see that Federal politicians not going to work whilst demanding the rest of economy open up is a terrible look.

        Fake journalist David Crowe defends Morrison not working claiming politicians are “super spreader” – but it’s ok to go to a Sharkies game.

        • bolstroodMEMBER

          “…Not our lot…”
          and now the bludgers are not going to be in parliament
          gutless, gormless and useless

    • Is Tony Abbott also calling for the pensions and perks for ex politicians to be cut back?

      • happy valleyMEMBER

        You’ve picked the hypocrisy – having been in parliament so long, he’d be on the golden handout deal and probably be getting a pension of $300k per annum indexed, for life just for waking up each morning.

        • I’d say that Tony is doing it just to bring attention to himself and to cause trouble. It’s what made him such an effective opposition leader and back bencher head kicker.

  9. When I go to shops in my mask, people guffaw or look at me like I’m an alien.

    Doctor who survived COVID-19 bewildered by public disregard

    BIRMINGHAM, Ala. (AP) — Dr. Michael Saag spends much of his time treating patients fighting for their lives and working with colleagues who are overwhelmed and exhausted by the relentless battle against the COVID-19 pandemic.

    But he enters a different world when he walks out the door of his Alabama clinic: one where many don’t wear masks, keep their distance from others or even seem aware of the intense struggle being waged against a virus that has cost about 140,000 lives nationwide and made so many — including the doctor — seriously ill.

    The disconnect is devastating.

    • 0.17% of New York State’s entire population already confirmed as dead from the virus. Also many more have died without being diagnosed, and the percentage of people who have contracted the virus is obviously fewer than 100%.

      Bearing that information is publicly known. I suggest that you save your time and ignore anyone still pushing the IFR 0.1% propaganda.

      “learn to live with the virus”…lol

  10. A timely choice of artwork Gunna. Williams’ Pilbara series is good, sadly mostly appropriated to NGV when better suited to AGWA. I hear two wealthy blokes are keen to establish a new Western Australian focussed gallery on a currently dilapidated site in East Perth. They should make an offer NGV couldn’t resist (or Rio et al could donate in Perth where the money is made) – after all these works are largely lost on the self-annointed sophisticates of inner Melbourne.

  11. Here in sunny Queensland we’re still selling houses like its 2019, or maybe even 2017. In the last week, 806 residential properties changed hands. The CoreLOLogic index for the week fell only 0.01, but on those sales a normal market would see healthy increments. Back in 2017, a weekly figure in the 800’s saw prices rising consistently. I am guessing there are some savvy investor types out there who have got the memo (who panics first panics best). I really really feel for those who are hanging by the skin of their teeth now and hoping. Interesting a property near us is being auctioned on 8th Aug, last sale 2009 for $560K. Shall be interesting.

    • Brissie pretty much flatlined in the past decade since the flood. No bubble so I wouldn’t expect it to have a bust compared to Mel and Syd.

  12. MB site owners – First Second Third gone, good. Now for a “latest comments” sidebar to make it easier to navigate lengthy comments thread, focus on what interests and avoid what does not?

    • Either that or allow hide comments from nominated users. I’d only need to tag three and the comments would be half as long without missing anything worthwhile.

      • yeborskyMEMBER

        There’s definitely merit in that idea. I’d just as likely be nominating the same three. 🙂

  13. RanganutsMEMBER

    “All tax payers should be on a publically accessible database which is update in real time…” (Fom one of the links above).

    This additional comment has to be satire, surely?

    • And you thought you were a free citizen. Silly boy!

      My all time favourite statement (in response to ever increasing state surveillance) is: If you haven’t done anything wrong you have nothing to fear!

    • Satire is what we have at the moment….

      A load of people being creamed 30-40% of their incomes as PAYE taxpayers, while the companies that employ them, the professionals ‘servicing’ them get an accountant to make them pay far less or no tax at all. All those negative gearing housing owners freeload to some degree or another too, and then big business sorts its marketing from Singapore or Ireland, or has a trust in Panama or Bermuda, as do loads of our politicians/corporate executives.

      Whether sadly or not we now live in a data age. Every last transaction is traceable in pretty close to real time. Even if people base their lives around cash they will still go to the bank from time to time.

      I dont just think all taxpayers and taxpaying entities should be on a public database in real time, I think all budget funded expenditures – everything from teachers and schools, to aged care facilities to politicians and their offices, and every last ‘contract’ awarded by some form of government funded grant, – be it local state or federal – should be tracked and trackable in real time (even if that only gives those unemployed punters sitting at home by a computer something to follow), and should not be awarded to those not adopting similar accountability.

      Satire is doing nothing and watching as the real estate lobby and the banking/finance world game things behind a fog of marketing bilge, lobbied politicians and political machines

      Satire is thinking all those cookies on our laptops or mobile phones arent already quite capable of analysing us to the degree of verisimilitude required. The vast majority of people in Australia get their tax taken out for them by a computer system or payroll type. The real fear of your Libertarian set is that their little lurk (whatever it may be) might get looked at.

      Lets go really big data….Lets have some open and verifiable transparency on who the beneficiaries of government policy – be it taxation, be it contracts, be it expenditure on schools, health, pensions or whatever.

      Lets have that taxpayer database!

      • RanganutsMEMBER

        That all sounds good in theory but in practice is would be ludicrous. Australians really do suffer from, ‘tall poppy syndrome,’ and we do not like seeing others do better than each other. Yes that is a general comment but it really does ring do for Australians.

        Your comments are focused on those big bad guys that everyone has a go about, (and rightly so), but there are many modest businesses out there who do the right thing, make a profit and pay their tax every year… if that sort of information was published then it would potentially cause problems within organisations. As you know companies need to make profit to reinvest in plant, machines, etc and have it ready for when times are bad. However not all staff would like to see companies making a profit, eg how much profit is too much profit? Some people have no idea what required to keep at the ready for when things go to pot, (like they are now).

        Companies aside, what would that do in the workplace? Person A is found to be earning more than Person B… person B may be better for a number of reasons but person A doesn’t think so… chaos ensues.

        Publishing that sort of information en masse just wouldn’t work. On a macro level it sounds ok but on a real world level it’s a big no.

        • SweeperMEMBER

          I think it is a great idea mainly because it would strip away all the distractions and could be used as the single universal underlying measure of a persons ethics.
          eg. ‘I raised this much for this charity’. Don’t care you paid effective tax of 12% – given income puts you in bottom 5% ethical bracket
          ‘I donated $1M to the bushfires’. Don’t care you paid effective tax of 8% – given income puts you in bottom 2% ethical bracket.

        • Sorry I am not buying what you are saying – but would concede the idea is problematic for some and would likely impact on management of any organisation insofar as they can discriminate between employees vis incomes and perks – particularly where those organisation do not currently account for those differences with their employees (or contractors)..

          But, ah, we live in a world where government policy is discriminating between people on the basis of not what they are meaningfully doing in an economic sense but on how much bullshido they can massage into someone else – ‘You’re an ‘investor?!!’ well have some negative gearing!’

          When all is said an done virtually every small business in Australia is living on and off the surface of a giant bubble inflated by financial flows directed to real estate speculation and a population ponzi – which has been inflated for 15 or so years by the mining/resources sector (which has a tax avoidance reflex believed to be capable of decapitating sitting Prime Ministers). That would apply to all trades, all services deployed in Australia, all medical professionals all accountants and all legal types etc…..the only exceptions I can think of off the top of my head are some types (mainly IT types) who work remotely in Australia for outfits offshore. All the retail, all the logistics, all the real estate all the architecture all the landscaping, all the education – all of their activities in Australia revolve around tax farming to some degree, all of their revenues are to a large degree reflective of their clients take from government redistribution of (almost solely mining related) national income, decided on by politicians, who for a generation have rewarded speculation and rentierism and non economic activity and penalised those exposed to global competition and those in the PAYE taxpaying world.

          Well a generation of that now has us (as a nation) floating face down in the puddle with a large weight called ‘debt’ pinning us down and our globally competitive position pulled down around our ankles where it is used as a tie. I have not one skerrick of doubt that things will be changing. Maybe the change will be marginal, but it will likely need to get traction, and if it doesnt get traction then those of us on the sidelines can grab another packet of jaffas and wait for the next person/party to come along and attempt to get traction, in the expectation that person might be inclined to try something more radical than the person who has failed to get traction. This is Australia so I would concede that could be a slow process involving a number of failed traction attempts. But I would also note that those in particularly the PAYE world are heavily indebted and are losing their jobs and are I should think becoming more inclined by the day to ask ‘What do I pay tax for? To provide support for me when needed or to provide perks for people older and richer than I?’ and might potentially become impatient the longer the contemplatory process goes on.

          Maybe my experience is unusual, but my first gig after Uni involved a senior partner sitting down in a room with half a dozen people and stating straight out ‘This is what everyone is getting’. I have long experience in and familiarity with the public sector – where everyone knows everyone elses classification and pretty much what they will be taking home. My recent experiences with small business make me wonder if fear of open accountability will revolve around themes of not wanting to explain to Mrs Jones why a few metres of carpet involves X amount when laying the same amount of the same carpet for Mrs Blenkinsop around the corner can be done for X minus 30% – my apologies if I sound sensitive, my neighbour and I have fielded quotes varying by circa 75% for a fence recently.

          I also find myself wondering how many small business types lack the ability to tell underling A ‘this is what you get and this is what underling B gets and this is why’ without telling some epic porkies.

          For years I have thought that more transparency and accountability was the way to go, but I could never work out a relatively pain free way to get us there. Now COVID19 is sharing the pain about on a mass basis I figure now is as good a time as any.

          • Thanks for the extras, Gunna, and the commentary. Today’s pic? mmm

            I’ve watched successive governments pay massive attention to reducing accountability and transparency. Outsourcing was a big contributor. Sunlight goes a long way, but it’s weak at the moment and I cannot remember a government so blatant in its lying and open handedness about giving money to connections and even spouses and other family members. But I guess the eyes that used to watch out for corruption and so on are now firmly eying us and watching for the kind of insurrection and treasonous talk that we find on this site.

            Idle hands mean people have time to look at their lives and how well their governments protect them and keep them safe and fed. Our big government is about to cut the money cords for many that still need it. The ‘we can find money for anything’ monkey is way out the bag now. Every time I pay tax to my protector, I just think confiscation given how little I have. People can only be pushed to far, yet Aussies I think will tend to take it on the chin, which is sad.

            (Had a fling with a Telstra exec in late 90s. She was on 400k, coordinating tenders.

            It was clear in their contracts and the negotiations – no tell other employees your package – something about extracting a surplus or something or other under a demand curve. Enabled them to pay their stars and underpay many who didn’t know what they were worth the ‘company’.

            Gosh, when I think how much little the everyday Aussie got for selling Telstra. It was our fucking money that created the company; just like my oil and gas cheques…)

      • We can’t even get realtime monitoring for political donations, so I would have no hope for a taxpayer database getting off the ground. Just like the rich and celebrities can get around quarantine protocols, I’m sure there will be exemptions for a select class of individuals due to fears of being robbed/personal risk etc.

        • Well my personal theory is that

          1. Our governments have tolerated an awful lot of unhappy campers growing in their midst for some time.
          2. Our governments are about to fan that sentiment to white hot levels by coming out with lines (within weeks/months) revolving around ‘fiscal probity’ ‘government debt’ ‘future generations’ and hopefully not ‘suck it up’
          3. When they do there will be nutters in our midst (if there arent already)
          4. When our governments start to twig to the idea that there are some nutters in our midst they will be inclined to digitally track and monitor developments in the nutter sector
          5. Lots of things which werent digitally possible hitherto might become so at that point.

          I wouldnt hold your breath, but I do think we will follow something like that.

          • Arthur Schopenhauer

            On point 3, do you mean nutters in Gov or citizen nutters or lobbyist nutters?

  14. haroldusMEMBER

    Am rewiring a mate’s japanese 80’s strat at the moment for his birthday.

    Have already refretted it (quite difficult with maple neck), and dropped in a set of like for like Gotoh machine heads.

    Decided to shield the cavities while in there, just finished painting the first layer of conductive paint.

    But the Japanese strats of the era are let down by cheap one ply pickguards, and this one has warped over time. Checked youtube, you can just put it in a pan of just below boiling water then flatten it under books. BUT, when you take the guard from the pan, it is a bit soft and starts to re-form before I can get it flat. 4th attempt, it’s driving me crazy.

    Also bought him Tonerider City Limits for Neck and mid and Seymour Duncan SL59-1b – Little ’59 for Strat Guitar for the Bridge Pickup.

    So should be a hot-rodded strat when done.

    • Mate…don’t get seduced away from the one true Rock and Blues guitar (aka the humbucker equipped Les Paul) by the siren song of the Strat.

        • haroldusMEMBER

          Ha! I’ve got 4 strats (US 76, Jap 90s, US 02, US Deluxe 14) and one Jap 90s Tele.

          I’ve got Kinmans in the old US strats and the Tele.

          For the LP shape I use Japanese copies from the 80’s which I strip out and refit. The wood is usually good, just the components are often cheap. Thing is I was spending a few hundred for each guitar at a luthier, when I decided to do it myself. Now I can refret and rewire/shield and set up/intonation a guitar in a few hours, and for under a grand I have a pretty good guitar.

          Often I gig (when there were gigs) with a Yamaha AES820 with a DM Superdisortion in the bridge and either a split hummy in the neck or something that sounds single coil (not so successful finding that so far) .

          That may be a little too much detail.

          • I’ve got the first rehearsal for about 6 months with my band on Thursday after work and I can’t wait. Playing with humans rather than Band in a Box is gonna be great. The Angels, Powderfinger, Sunny Boys, AC/DC…I know I know…old fart music, but it sounds good to me.

          • Those old Jap copies were really good. Funny story about the jap a copies. They built them so well in the beginning no one wanted the US made ones as the price difference was huge. There was a surge on Jap made models, then all the brands made the Japs use lower quality wood and hardware. Problem solved. There are 80’s and 90’s jap guitars out there that are BEETER than the US ones (especially Jackson). I owned a couple.

        • Sounds like you’ve gone a bit overboard on the strats there. More Les Paul’s could only enrich your musicianship, though female partners often have some trouble understanding why that is.

          • haroldusMEMBER

            I’m actually keeping an eye out for one of those robot LPs, they are pretty unloved. That blue sunburst is a bit dodgy though.

    • annualize_this

      Pretty sure someone on here raised this about 10 days back. The assessment was that it was the bogan wolverine.

    • drsmithyMEMBER

      Notably absent from this increasing overreach of Federal Government power is the NRA and all their guns.

      • Antifa, BLM,deplatforming, cancellation, job termination, generally all the SJW lunacy comes from the fake left. Idiotic Autonomous Zones in the US aren’t being set up Republicans. BLM protests here aren’t full of Liberal voters.

        I’m not saying Scomo, Trump et al are wonderful, but I agree with Mr Chrenkoff about the success of the Bogus Lefts long march through the institutions, and the negative effect its having on our society.

        • Everything you just pin a tail on is in result of decades of neoliberalism and not some wacky leftly agenda to take over the world … where is the economic underpinnings to rob the rich of their property – ????

          • The Traveling Wilbur

            No. It wasn’t.

            The “wacky left” are quite capable of taking over the world without taking a single cent off “the rich”. Dumbass.

            The problem with the fact that the left knows it can do this, is that the left has finally realised it really can do this. And that it will make TPTB very happy. But not most electorates. So far. I wonder why…

            Two more generations and we’ll be reciting ‘equity pledges’ at work. You just wait.

    • Please refer to the left political law makers that shaped the period of neoliberalism …

    • drsmithyMEMBER

      With a handful of exceptions notable by their exceptionality, “cancel culture” is just some people with extremely loud voices getting cranky that a lot of people with (individually) very quiet voices calling them out on their bullsh!t by exercising their right to free speech.

      Ie: it’s not a thing.

      • That is the single most stupid statement I’ve ever seen made on this forum. Which is a big call I know, but I’m prepared to make it.

        • Yet you can’t substantiate it …

          AKA you sound like that angry guy with a lot of bumper stickers on the back of their car … eh

        • drsmithyMEMBER

          That is the single most stupid statement I’ve ever seen made on this forum.

          From the guy blaming the left in a world run by increasingly far-right Governments.

        • The Traveling Wilbur

          Can we agree to call it a tie in the stupid statement category and a winner by a head in the logical fallacy one?

        • I thought young ‘smithy’ couldn’t get much lower, but he did. ‘Progressive’ ideologues are like that – there’s no swaying them.

          Religious zealots, if truth be told.

  15. India ponders siding with West against China. For years, the United States and its allies have tried to persuade India to become a closer military and economic partner in confronting China’s ambitions, as a chance for the world’s largest democracy to counterbalance the largest autocracy. Indian officials feel that their goal of an India closer to the West was starting to be realized. India signed a major defense agreement with Australia that allows both countries to use each other’s military bases. And it is expected to invite Australia to join naval exercises it conducts with Japan and the United States, to strengthen efforts by the so-called Quad – Australia, Japan, the United States and India – to counter China’s projection of sea power in the region. India supported calls to investigate the origins of the coronavirus – an inquiry China had fought to block. But India is still well behind China when it comes to military and economic power. Though India denies it, independent military analysts have estimated that Chinese troops have seized control of about 23 square miles of Indian territory. India has become more willing to use its vast market as a lever to pressure China. It passed legislation requiring government approval for any investments from Chinese entities, a setback for China as its companies look abroad for growth. And India planned to raise tariffs on Chinese goods. Diplomats expect India to prevent the Chinese telecom giant Huawei from entering its market to build a 5G wireless network. Indian political figures criticized China’s authoritarian system and its lack of transparency as the coronavirus spread beyond its city of Wuhan, where it is widely thought to have begun. China’s push at the border is not an isolated show of strength. Since the pandemic’s start, China has flexed harder on many different fronts: It sank a Vietnamese shipping boat, harassed Malaysian oil rig operations and tightened its control over Hong Kong in hopes of stamping out the pro-democracy movement there. And right off India’s southern coast, China took possession of a port in Sri Lanka after that country could not pay its debt to Beijing. Some Indian officials fear that China could militarize the port, which Sri Lanka denies. The Brookings Institute predicted the new wave of border violence would prompt India to push back harder.
    The New York Times